303 21st St Newport, MN 55055-1094
- Office buildings
- 24,447 SF
- 0.79 lot acres
Current Use by Public Records
- Newport Plaza / Shopping Mall
- Five Star Exteriors & Interiors of MN LLC / Contractor
- Oak Tree Support Services / Social Services Organization
- eAge Academy, Inc. / Education
- Newport Windshield Replacement & Repair / Auto Glass Shop
Property Details for 303 21st St
- Year built
- 1922
- Lot size
- 0.79 lot acres
- Property size
- 24,447 SF
- Property type
- Office buildings
- APN
- 26-028-22-41-0034
- APU
- 2602822410034
Description
This two-story, 21,800 square foot commercial building at 303 21st St, Newport, MN 55055, offers diverse office spaces ideal for various businesses. Located in the Washington County submarket (Newport/Cottage Grove cluster), this Class C property boasts a convenient location near Newport's new city hall and off Highway 494, ensuring high visibility and accessibility. Built in 1954 and renovated in 2009, the building features 25 suites, with four currently available, ranging from 668 to 1,850 contiguous square feet. The minimum divisible space is 668 square feet. The building includes a total of 34 parking spaces and an open atrium at the main entrance, enhancing the welcoming atmosphere. Security features include a camera system and automated access control at the main entrance. The building's diverse tenancy includes a US Post Office, providing excellent exposure and foot traffic. Other tenants represent a variety of services, including tax services, chiropractic, cosmetics, tattoo, logistics, dental, pet accessories, and mechanical contractors. The building is well-maintained and offers 8-foot ceilings. Utilities are provided by Xcel Energy. The property sits on one acre of land and is zoned MX-2. While there are no elevators, the building's two stories are easily accessible. This property presents a valuable opportunity for businesses seeking a well-located, versatile, and established office space in a thriving community.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $515,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $500,000
- 6.5%
- $490,000
- 7%
- $560,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $550,000
- Geo Method
- $470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $440,000
- Retail
- $535,000
- Mixed-Use
- $520,000
- Hospitality
- $440,000
- Educational
- $555,000
- Residential Income
- $430,000
- Energy
- $400,000
- Income-Based Land
- $415,000
- Food Service
- $475,000
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Washington
- State
- Minnesota
- Longitude
- -93.0048
- Latitude
- 44.8804
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
